From start to finish, real estate transactions involve expertise from a variety of professionals. From real estate agents, to title insurers, legal experts, and mortgage lenders, it can be a challenge to find everyone you need in one place! In each phase of your purchase, you can count on the home buying experts at Lakeside Title Company.
Lakeside’s Team of Real Estate Advisors
Where does each professional fit into the transaction process and what role do they play? We put together a list of “Who’s Who” so you can build your team today!
- Real Estate Agent
Your agent will be your main point of contact and your guide through the bulk of the real estate property search, negotiations, contract, and settlement. At the early stages of buying a home, a real estate agent can help clients obtain pre-qualification letters from lenders, give clients access to tour properties on the market, and serve as an industry expert on both home value, and negotiation factors. Agents also serve as expert networkers who connect you with any other professionals you may need, such as inspectors, contractors, lenders, attorneys, and settlement officers. Meet our team at Lakeside Title Company.
- Mortgage Lender
Finding a mortgage lender is key for many buyers, especially first-time home buyers. A mortgage lender provides the financing that will become the buyers’ monthly mortgage payment. They collect information such as bank and credit statements, credit reports, and proof of income to determine the amount a buyer will be approved to borrow. A mortgage lender can walk a potential buyer through the types of home loans available and the loan terms.
- Title Insurer
During the sale process, title insurers review public records to identify any potential issues with the title. Title insurance offers protection to a buyer in the event that the property purchased has any defects, tax liens, outstanding claims, or in the case a fraudulent sale occurs. Title insurance can cover both the buyer and the lender against any losses that may arise from undiscovered title defects.
- Closing Agent or Settlement Officer
A closing or settlement agent is a neutral third party crucial to handling the final details, including printed or electronic signatures and the transfer of funds. Depending on the state where the transaction occurs, settlement requirements may differ, and you can rely on Lakeside Title’s team of professionals to support you through the entire process. The closing agent ensures that the written closing instructions and purchasing agreement are followed and that privacy is ensured.
Remember, Lakeside can help you understand what to expect on closing day, and ensure the day runs smoothly. For the closing, participants gather at a predetermined venue, typically a Lakeside Title office. The meeting, overseen by a Settlement Officer, involves document exchange to finalize property transfer to the buyer and payment to the seller. Deeds and mortgages are recorded in sequence to maintain the property’s ownership history. And then, it’s time to celebrate!
At Lakeside Title Company, we serve everyone involved in real estate transactions, including buyers, lenders for residential and commercial projects, as well as builders and investors. Contact us today and you’ll see that your property is our priority!
